Goldman Sachs to offer algorithmic trading via Fidessa
London, 16th January 2006 - Goldman Sachs, a leading global investment banking, securities and investment management firm and royalblue (LSE: RYB), supplier of Fidessa, today announced Fidessa clients are now able to access the Goldman Sachs Algorithmic Trading (GSAT®) services as well as route care order flow and perform DMA trading. Goldman Sachs will receive order flow from Fidessa's global connectivity network.
This agreement enables Fidessa's users to benefit from Goldman Sach's algorithmic trading suite. GSAT brings a systematic approach to trading utilising sophisticated techniques to minimize transaction costs in an increasingly complex trading environment. Fidessa users can take advantage of the GSAT automated trading tools combined with support from Goldman Sachs professionals. With connectivity to 60+ destinations and 23 markets, GSAT offers numerous algorithms covering a wide range of trading strategies.
Peter Sheridan, head of European algorithmic trading at Goldman Sachs says: "We are confident that the relationship with Fidessa will enable us to tap into a broader user community. By combining our GSAT strategies with Fidessa's resilient and robust platform we empower our customers with the tools to minimize market impact and achieve industry benchmarks."
Simon Barnby, head of Fidessa strategy, adds: "We are proud to have Goldman Sachs joining the raft of brokers on the Fidessa network. Our users can benefit from the multiple execution venues and algorithmic providers available to achieve efficiencies and economies of scale. Having a choice of algorithmic strategies enables them to pick more complex trading models and minimize risk - an offering which is particularly appealing to the buy-side."
Fidessa's connectivity network provides a fully normalised, highly resilient, broker-neutral solution for clients wishing to route order flow to a variety of sell-side destinations. Typical uses of the network include buy-side to sell-side connectivity and broker-to-broker connectivity to support non-member trading across numerous markets. Access to the Fidessa order routing network is available from the Fidessa trading platform through the Fidessa Workstation as well as by direct FIX network connectivity.
The Fidessa product suite provides integrated trading, market data and connectivity solutions to over 8,000 users at around 200 institutions globally.